American solar developer SPI Solar has joined forces with German renewable energy company Wircon to develop solar projects across the UK.
The two companies have formed a joint venture company which is aiming to develop around 55MW of new PV capacity in the UK.
“We are delighted to announce this strategic partnership between SPI and Wircon for the UK solar market,” said Xiaofeng Peng, chairman of SPI. “Wircon has amassed a wealth of solar project development experience in Europe over the years, and this agreement provides a foundation for SPI to grow our business in the critically important UK market.
“The UK will be one of our key geographic focus markets in the coming years, and this announcement marks a new milestone for SPI internationally.”
The companies have identified the UK as one of the key global solar markets and hope that their partnership will help grow its presence in the sector. Projects will be procured and developed with the joint venture company looking to both own and sell some assets.
Wircon recently acquired parts of troubled German solar company Wirsol. The company hopes to build on the established brand name of the business and leverage its experience.
Peter Vest, managing director of Wircon, added that the partnership was a “logical result” which allowed the companies to fast track their UK project development business.
Mark Hogan, president of Wirsol Energy Ltd., a subsidiary of Wircon explained the joint venture’s next move, he said: “We plan to capitalise on selected opportunities with attractive return potential in the UK market, particularly given the Department of Energy and Climate Change’s proposal to close the renewable obligation scheme to new solar PV capacity above 5MW from 1 April 2015. We will also invest in sourcing and building a substantial and sustainable pipeline looking into 2015 and beyond.”